BRUSH Group acquires European transformer windings specialist
Energy engineering solutions provider BRUSH Group has acquired European transformer windings specialist Co.Bo.T srl for an undisclosed sum.
The deal allows BRUSH to secure a vital link in its supply chain and creates extra production capacity to support the expansion of the UK electricity grid for years to come.
With increasing demand for power transformers, driven by the transition to net zero, acquiring Co.Bo.T also has the potential to optimise lead-times for BRUSH customers keen to connect to the grid.
Based near Vicenza in Northern Italy, Co.Bo.T supplies major transformer manufacturers across Western Europe – including BRUSH – and has built a strong reputation as a winding specialist in the 33kV-132kV bracket. Last year the firm invested in a major upgrade to its production line and has proven capacity to handle the entire sub-assembly manufacturing process.
And following a commitment to a multi-million-pound investment in its state-of-the-art testing facilities in Loughborough, Leicestershire, BRUSH is increasing its own in-house capabilities within final assembly and testing, ensuring its transformers continue to meet the highest standards and specifications.
Nicolas Pitrat, CEO of BRUSH Group, said: “I’m very excited to welcome Co.Bo.T to the BRUSH family. Their impressive skills and expertise will not only help boost our supply chain, but in joining the Group they will further enhance our comprehensive solutions offering, ensuring we can support our customers every step of the way.
“Our strategic partnership with Co.Bo.T, combined with the investment in our Loughborough facility, significantly increases our production capability while maintaining our renowned transformer quality.”
Davide Cornale, Managing Director of Co.Bo.T, said: “Having worked as a key supplier to BRUSH for many years, we are delighted to have the opportunity to become part of the Group.
“I am proud of what we have achieved over the past 30 years and the deal with BRUSH is a testament to the team’s expertise, the quality of our work and the high level of service we offer – that will continue in the future. The acquisition will also give us the financial backing to drive future growth and better support our customers across Europe.”
As part of BRUSH Group, Co.Bo.T will remain a standalone business, continuing to offer its winding and assembly services to the whole transformer industry. The firm employs a 40-strong team of people, all of whom will be retained. For Co.Bo.T’s existing customers, all contracts will be honoured under the new ownership, with BRUSH emphasising that it’s “business as usual.”
27,537ft² unit sold in Newark
FHP have sold a 27,537ft² unit on a 2.65 acre site in Newark, to local occupier Onebigstar (Holdings) Limited. The sale of Brunel House shows the freehold market for large industrial premises around Nottinghamshire is still strong and resilient.
FHP’s client, Rotherhill Developments, acquired Brunel House in Newark in March this year and have repurposed the premises and completed a sale to the owner occupier.
Anthony Barrowcliffe, associate director of FHP, said: “Working alongside Will Torr of HEB and Rotherhill has been an excellent experience and I am delighted to have been the one to have found the purchaser.
“There was a lot of joint effort put into this transaction and I am pleased with the outcome, not only for the vendors Rotherhill, but also for the purchaser Onebigstar.
“I am delighted that after high levels of interest we could find the right buyer for this building. This new facility will support a local business’s growth and secure their future.”
Edward Jeffery of Rotherhill said: “This property is an excellent location within an established industrial estate and benefits from strong transport links.
“Understanding the local market and demand for good quality second hand industrial space with extensive hardstanding/yard areas, we saw the opportunity to return the property to its originally intended industrial use.
“We are pleased to have sold the property to a successful Newark-based business. The building will facilitate their growth and future job creation.”
2,000 Lincolnshire jobs on the line as British Steel reveals intent to shut down blast furnaces
British Steel has revealed £1.25 billion decarbonisation proposals that unions say could see 2,000 jobs lost in Scunthorpe.
The company is planning to shut down blast furnaces at the manufacturing site, replacing them with greener and cheaper electric arc furnaces. The new furnaces could be operational by late 2025 and would replace the aging iron and steelmaking operations in Scunthorpe which the business says are responsible for the vast majority of its CO2 emissions. British Steel has started preliminary talks with trade unions about electrification, and has promised to support employees affected by the decarbonisation plans. It has agreed for its proposals to be reviewed by an external specialist on behalf of the trade unions. The company added that it is working with North Lincolnshire Council on a masterplan to attract new businesses and jobs to the Scunthorpe site, parts of which could become vacant if the proposals go ahead.£500,000 funding boost for affordable homes in Derby
Derby City Council has secured over £500,000 in Government funding to help build new affordable homes for rent in the city.
The money has been awarded by HM Government via the Brownfield Land Release Fund (BLRF2). The homes will all be owned by the Council and managed by Derby Homes.
Two sites will benefit from the award. Plans to build 17 new homes on The Knoll, a long-vacant site on the corner of Village Street and Stenson Road, were approved on 20 October.
The BLRF2 fund has awarded £367,177 towards this development, which will be used to prepare and stabilise the ground ready for building work to begin. This involves repairing the retaining wall around the site, levelling the ground and providing a new road onto the site.
In addition, £203,509 has been earmarked for a proposed development of 17 affordable homes on the underused Drewry Lane car park, which is subject to planning consent. This is the site of a former metal works, and the funding would be used to remove contaminated earth from below the surface and replace it with clean soil.
Councillor Shiraz Khan, Cabinet Member for Housing, Property and Regulatory Services, said: “The BLRF2 grant is a welcome contribution towards providing much-needed, affordable social housing in the city. The value of both projects is many times more than this funding, but it recognises the challenges in making brownfield sites suitable for development.
“Subject to planning and a tender exercise, we would expect construction to start as early as next spring, with completions due in 2025. Both these sites are part of our joint programme with Derby Homes, which aims to build or acquire around 100 affordable homes per year to address the urgent need for housing in Derby.”
The BLRF2 fund is managed by One Public Estate, of which Derby City Council is a member. One Public Estate is a partnership between the Office of Government Property in the Cabinet Office, the Local Government Association, and the Department for Levelling Up, Housing and Communities.
It provides practical and technical support and funding for public sector partners to deliver ambitious property-led programmes in collaboration.
Planning Inspectorate upholds appeal after Lincolnshire County Council’s refusal of oil drilling proposals
Union Jack Oil, an onshore hydrocarbon production, development and exploration company, has announced that the Planning Inspectorate has upheld an appeal against the refusal of planning permission by Lincolnshire County Council for a side-track drilling operation, associated testing and long-term oil production at the Biscathorpe-2 wellsite.
The Biscathorpe project is covered by onshore UK licence PEDL253. The PEDL253 joint venture partnership will review the decision notice and associated planning conditions before providing an update on plans for progressing operations.
As part of this, it is said the operator, Egdon Resources Limited, will look to engage with the local community to ensure activities have minimal impact on local amenity.
Union Jack holds a 45% economic interest in PEDL253.
David Bramhill, executive chairman of Union Jack, said: “I am delighted to report this highly positive news in respect of Biscathorpe, one of our highest ranked projects, in which Union Jack holds a material 45% economic interest.
“While drilling the Biscathorpe-2 well, there were hydrocarbon shows, elevated gas readings and sample fluorescence observed over the entire interval from the top of the Dinantian to the Total Depth of the well, with 68 metres being interpreted as oil-bearing.
“Independent Consultants Applied Petroleum Technology also conducted analyses, confirming a hydrocarbon column of 33-34 API gravity oil, comparable with the oil produced at the nearby Keddington oilfield where Union Jack holds a 55% economic interest.
“Re-processing of 264 square kilometres of 3D seismic, indicate a material and potentially commercially viable hydrocarbon resource remaining to be appraised.
“The operator has assessed, in accordance with the PRMS Standard, gross Mean Prospective Resources of approximately 6.5 million barrels of oil. Commercial screening has indicated break-even full cycle economics to be US$18.07per barrel of oil.
“Union Jack’s technical team believe that Biscathorpe remains one of the largest unappraised conventional onshore discoveries within the UK. I thank shareholders for their patience and remain confident that both investors and the company will be well rewarded in due course.”
Derbyshire tourism awards shortlist announced
The shortlist of finalists for the 2024 Peak District, Derbyshire & Derby Tourism Awards has been revealed, showcasing excellence and outstanding achievement across the area’s tourism and hospitality sector.
Finalists have been announced in 14 awards categories celebrating the best of the local visitor economy, ranging from hotels, B&Bs and campsites to pubs, visitor attractions and unique experiences.
Matlock Farm Park has been shortlisted for a total of three awards, including the Accessible and Inclusive Tourism Award, Team of the Year, and Visitor Attraction of the Year.
Shortlisted businesses will now go forward to the final round of independent judging before winners are revealed at a glittering awards ceremony at the Museum of Making in Derby next March.
Organised by Visit Peak District & Derbyshire, in collaboration with Visit Derby as the region’s official Local Visitor Economy Partnership, the 2024 awards celebrate the success and resilience of tourism businesses whilst highlighting the sector’s vital contribution to the local economy.
The 2024 Peak District, Derbyshire & Derby Tourism Awards are sponsored by digital solutions company Destination Core and Derbyshire-based C W Sellors Fine Jewellery & Luxury Watches, who will be designing and handcrafting luxury bespoke awards for all Gold winners.
Following the awards ceremony, Gold winners in each of the 13 core categories will automatically progress onto the national VisitEngland Awards for Excellence 2024, which represent the highest accolades in English tourism.
Jo Dilley, MD of Visit Peak District & Derbyshire, says: “The Peak District, Derbyshire & Derby Tourism Awards are a celebration of the passionate, hardworking and innovative businesses who continually raise the bar of our world-class tourism offer.
“Not only do the awards showcase the sheer quality of our tourism experiences to visitors from across the country, but they also serve as a timely reminder of the value of our visitor economy and the important role the industry plays in making the destination such a great place to live, work and visit.
“We’ve received a record number of applications this year and reaching this impressive lift of finalists is an achievement in itself. We look forward to celebrating with our finalists and partners at the awards ceremony in 2024.”
The 2024 Shortlist
Accessible and Inclusive Tourism Award
- Hoe Grange Holidays, Brassington
- LEVEL Centre, Rowsley
- Matlock Farm Park, Matlock
- The Coach House, Derby
- Sheldon House, Monyash
- Underleigh House B&B, Hope
- Darwin Forest Lodges, Matlock
- Longnor Wood Holiday Park, Longnor, nr Buxton
- Rivendale Lodge Retreat, Ashbourne
- Hoe Grange Holidays, Brassington
- Manor House Farm Cottages, Bakewell
- Pure Outdoor, Bamford
- Great British Car Journey, Ambergate
- Pub Tours Ltd, Darley Dale
- Pure Outdoor, Bamford
- The Maynard, Grindleford
- Peak Edge Hotel, Chesterfield
- Wildhive Callow Hall, Ashbourne
- The Bull I’ Th’ Thorn, nr Buxton
- Muse Escapes Ltd, Buxton
- Pub Tours Ltd, Darley Dale
- The Blind Bull, Great Longstone
- The George, Hathersage
- The Prince of Wales, Baslow
- Hoe Grange Holidays, Brassington
- Stainsborough Hall Ltd, Carsington
- Waterside Barn, Bradbourne
- Fischer’s Baslow Hall, Baslow
- The Maynard, Grindleford
- The Patternmakers, Duffield
- The George, Hathersage
- Matlock Farm Park, Matlock
- Muse Escapes, Buxton
- Helena Smith Parucker, The Museum of Making
- Steph Taylor, Atlantik Inns
- Emma West, Longbow Bars and Restaurants
- Adrian Gagea, Longbow Bars and Restaurants
- Alan Hobson, The Old Original Bakewell Pudding Shop
- Jane Redfern, Wildhive Callow Hall
- The Children’s Country House at Sudbury, Sudbury
- Matlock Farm Park, Matlock
- The Museum of Making, Derby
Frasers Group’s plan to acquire German sports retailer hits hurdle
Frasers Group’s plan to acquire SportScheck, one of the leading sports retailers in Germany, has hit a hurdle.
While the acquisition would enable Shirebrook-based Frasers to grow its presence in Germany, one of the biggest sports markets in Europe, the company it intends to buy is said to be on the brink of administration, according to Telegraph reports.
SportScheck has over 75 years of expertise in sports retail, with 34 stores in prime city locations across Germany, revenue of approximately €350m, and a loyal customer base of over 13 million visitors per year.
However it could now be put into insolvency by its financially struggling investment group Signa, which in the deal with Frasers had agreed to finance SportScheck until the transaction is completed – not expected until January – which it may no longer be able to do.
When announcing the acquisition Michael Murray, CEO of Frasers Group, said: “Acquiring the leading sporting goods retailer in Germany is a big step in our journey to becoming the number one sports retailer in EMEA – and we are delighted to do this with the full support of major global brand partners, Adidas and Nike.
“Growing and expanding our Sports business is a key focus area in becoming an international retail business. The German market represents a huge opportunity for us, and we look forward to bringing our experience, resources and relationships to strengthen the SportScheck business.”
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Land transferred for next phase of Derby’s Castleward development
Derby City Council has now transferred the final piece of land ready for work to start on phase 4 of the Castleward development.
The former Derbyshire County Transport site was the last piece required to allow the next stage of works to begin, following the acquisition of the former Tarmac site and properties on Canal Street earlier this year.
The Council took possession of the site and has now passed it over to Compendium Living, who will be carrying out clearance works in the coming months. Construction on the new homes will begin in 2024, carried out by Compendium Living’s construction partner, Lovell Partnerships.
Derbyshire County Transport has relocated to the Merlin Park development off Osmaston Road, helping bring forward the regeneration of another former industrial site, and keep this important service based in the city.
Phase 4 was given the green light by planners in May 2023 and will provide 112 new homes in the city centre, 34 of which will be affordable homes. The properties will be a mix of two-, three-, and four-bedroom houses, and one- and two-bedroom apartments.
Castleward is one of the city’s largest regeneration projects, providing around 800 new homes in total, alongside green spaces, a new boulevard, and new commercial units.
Councillor Nadine Peatfield, Cabinet Member for Regeneration, Culture and Tourism, said: “Castleward is one of the city’s key regeneration projects as we look to bring people back to the city centre.
“I’m delighted that we’re now able to push forward with this next phase. Derby needs an attractive gateway from the train station, and these 112 new homes will contribute to that.
“Just recently we celebrated as the showhomes opened at phase three, and I look forward to seeing the next round of homes take shape over the coming years.”
Bruce Lister, Managing Director of Compendium Living, said: “As we near completion of our current phase on Castleward, we’re really pleased to have secured the final piece of land that will form part of the next construction phase, Phase 4, which is due to start on site in Spring 2024.”
Chesterfield temperature sensor manufacturer snapped up
SDI Group, the AIM-listed group focused on the design and manufacture of scientific and technology products for use in digital imaging and sensing and control applications, has acquired Peak Sensors, a manufacturer of temperature sensors in a £2.4m deal.
Peak is based in Chesterfield with a 5,300 sq ft leasehold facility, and has approximately 14 employees.
Revenues for the year ended 31 March 2023 were £2.1m, with EBIT of c.£330,000.
Peak will join the group’s Sensors and Controls division.
Ken Ford, chairman of SDI, said: “The acquisition of Peak is a further step in our group growth strategy, demonstrating again the opportunities to acquire businesses with high quality products with export growth potential.
“The acquisition is expected to be earnings enhancing in the first full year of ownership. We are delighted to welcome Roshan Aucklah, Peter Smith and their staff at Peak to the SDI Group.”
